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An institution requesting the permission referred to in paragraph 1 shall provide the competent authority with documented justifications for the exclusion of an exceptional operational risk event, including: (a) a description of the operational risk event; (b) proof that the loss from the operational risk event is above the materiality threshold for loss exclusion referred to in paragraph 1, point (b)(i), including the date on which that operational risk event became greater than the materiality threshold; (c) the date on which the operational risk event concerned would be excluded, considering the minimum retention period set out in paragraph 1, point (c); (d) the reason why the operational risk event is no longer deemed relevant to the institution’s risk profile; (e) a demonstration that there are no similar or residual legal exposures and that the operational risk event to be excluded has no relevance to other activities or products; (f) reports of the institution’s independent review or validation, confirming that the operational risk event is no longer relevant and that there are no similar or residual legal exposures; (g) proof that competent bodies of the institution, through the institution’s approval processes, have approved the request for exclusion of the operational risk event and the date of such approval; (h) the impact of the exclusion of the operational risk event on the annual operational risk loss.

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Source: EUR-Lex CELLAR · retrieved 2026-09-04